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Question
Under the MBCA, which of the following is correct concerning shares repurchased by the corporation?
A. They are no longer issued or outstanding, which means that they may be resold only for par value or more.
B. They may either be restored to unissued status or held as treasury shares, which means they may be sold at any price.
C. They may be canceled, in which case they are no longer authorized and cannot be reissued.
D. They are issued but not outstanding, which means they may be resold at any price.
Answer
This answer is hidden. It contains 117 characters.
Related questions
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What year was the Toxic Substances Control Act passed?
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B. 1970
C. 1981
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B. permits.
C. tolerances.
D. blocs.
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The term "Superfund" refers to:
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John owns a parcel of land on which he wants to build an apartment building. However, John's land is currently a swamp; he wants to drain it. John should apply for a permit to drain the swamp from:
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Which of the following can issue both National Pollution Discharge Elimination System (NPDES) permits and industrial discharge permits?
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Which of the following was the earliest federal legislation enacted to protect water bodies against pollution?
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The _____, enacted in 1970, required that an environmental impact statement be prepared for every recommendation or report on legislation and for every major federal action significantly affecting the quality of the environment.
A. Comprehensive Environmental Response Compensation and Liability Act
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Which of the following are exempted from antitrust violations under the Clayton Act?
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For _____, cost justification is the primary statutory defense to liability under Section 2(a) of the Robinson-Patman Act.
A. functional discounts
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Which Section of The Clayton Act originally prohibited local and territorial price discrimination by sellers?
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B. Section 3
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The Clean Water Act incorporates both civil and criminal sanctions.
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Which of the following requires parties to the merger agreement for planned mergers involving dollar values of stock or assets exceeding certain amounts to provide advance notice to the FTC and the Justice Department?
A. Section 7 of the Clayton Act
B. The Robinson-Patman Act
C. Section 2 of the Sherman Act
D. The Hart-Scott-Rodino Antitrust Improvement Act
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There are three major defenses to price discrimination under the Robinson-Patman Act.
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Individuals convicted of a RICO (Racketeer Influenced and Corrupt Organizations Act) violation may be:
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C. fined up to $150,000 without an imprisonment.
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Q:
The maximum penalty for a criminal violation of the 1933 Act is a:
A. $20,000 fine and one year imprisonment.
B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
Nast Corp. orally engaged Baker & Co., CPAs, to audit its financial statements. The management of Nast informed Baker that it suspected the accounts receivable were materially overstated. Although the financial statements audited by Baker did, in fact, include a materially overstated accounts receivable balance, Baker issued an unqualified opinion. Nast relied on the financial statements in deciding to obtain a loan from Century Bank to expand its operations. Nast has defaulted on the loan and has incurred a substantial loss. If Nast sues Baker for negligence in failing to discover the overstatement, Baker's best defense would be that:
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C. Baker performed the audit in accordance with generally accepted auditing standards.
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Q:
In which of the following contexts is a professional most likely to experience a nonclient action?
A. An accountant who prepares and audits financial statements of companies.
B. A consultant who gives advice to companies for improving performance.
C. A securities broker who provides investment advice to retail investors.
D. An attorney who advises companies on corporation and business laws.